Zee's Punit Goenka Acquires Majority Stake In Maverick Media
Goenka made the investment to revive and enrich the single-screen experience, according to a statement.
Zee Entertainment Enterprises Ltd.'s Punit Goenka has acquired an additional stake in Maverick Media in his personal capacity. The amount of the acquisition has not been disclosed.
The managing director and the chief executive officer of Zee Entertainment made the investment to revive and enrich the single-screen experience, according to a statement released on Monday.
The investment will enable single-screen cinemas to unlock the potential of under-screened markets across the country by building single-screen theatres in tier-2 and tier-3 cities, it said.
Goenka said he is contributing towards the enhancement of the infrastructure of cinema chains in smaller cities to enrich the overall family viewing experience.
"I am confident in the ability of the team at Maverick to achieve its vision and grow the single-screen cinema business. I truly hope this step enables an economically viable opportunity for cinema exhibition operators across key growth markets in the country," he said.
Promoted by Vistaar Entertainment, Maverick Media is focused on the large single-screen cinemas across the country.
(With inputs from PTI.)
